Are insurers prepared for the COVID-19-related litigation avalanche?
The legal and insurance industries share a unique relationship - one that works for and, at times, against each other. This collection of articles addresses key and emerging issues overlapping the law and insurance sectors.
Insurance brokers may be exposed to liability for a variety of reasons, but the most common mistake that leads to exposure is a failure to procure insurance for an insured.
Normally, brokers have a duty to exercise reasonable care in procuring the insured’s requested coverage, and the broker assumes only those duties found in an agency relationship. Most state laws and regulations require the broker to use reasonable care, diligence and judgment in procuring the insurance requested by an insured.
Already have an account? Sign In Now
Copyright © 2023 ALM Global, LLC. All Rights Reserved.